Live Nation Entertainment, Inc. (NYSE:LYV) is one of the stocks Jim Cramer discussed recently. Cramer highlighted the company’s “top and bottom line miss,” as he commented:
“Over the past few weeks, it looks like the experiential economy ain’t what it used to be… Okay, then there’s Live Nation, a company we really like, that’s the world’s leading live entertainment company. They also own Ticketmaster. This is another stock that had been doing very, very well until recently. But when Live Nation reported last Tuesday night, its stock plunged more than 10% the next day in the wake of the top and bottom line miss, driven by a shortfall in their concerts business as well as weaker profitability from Ticketmaster.
Like the cruise lines, Live Nation’s still presenting a confident tone about the state of their business heading into next year. But we’ve grown accustomed to big beats from this company in previous quarters. So what happens? You get a legitimate shortfall, which actually looks like a decent number.”
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Live Nation Entertainment, Inc. (NYSE:LYV) promotes live music events, manages venues and festivals, and provides artist services. In addition, the company provides ticketing solutions, resale platforms, and sponsorship and advertising programs.
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Disclosure: None. This article is originally published at Insider Monkey.
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